Technical analysis by MR_CHARLES440 about Symbol PAXG: Buy recommendation (8/4/2025)

🟡 XAU/USD – 4H Technical Analysis 📍 Asset: Gold Spot vs U.S. Dollar (XAU/USD) Timeframe: 4-Hour (H4) Current Price: $3,357 🔹 Market Structure Overview: The market is forming a corrective pullback within an overall bullish structure. Price has recently tapped into a support zone and is projected to rise toward higher highs. A bullish trendline is being respected, and the forecast suggests continuation to the upside. 🛡️ Key Support Levels: 1. Heavy Support Zone: 🔻 $3,240 – $3,260 Strong institutional demand zone If price drops here again, expect heavy buying pressure. 2. Support Zone: 🔻 $3,300 – $3,320 Recently acted as a bounce point Aligned with bullish trendline and previous structure 🔼 Resistance & Target Zones: 1. Resistance Zone: 🔸 $3,375 – $3,385 A key horizontal resistance area May act as a short-term obstacle for price 2. Target Zone (Bullish): 🎯 $3,480 – $3,500 Forecasted zone for trend continuation A key liquidity target and swing-high area 📈 Price Forecast Path: Purple line in the chart indicates the following steps: 1. Bounce from support 2. Break above resistance zone (~$3,385) 3. Consolidation above trendline 4. Continuation to the Target Zone at ~$3,500 🧠 Trade Plan Suggestion: Entry ZoneStop LossTarget 1Target 2 $3,300 – $3,330Below $3,260$3,385 (resistance)$3,480–$3,500 (target) ⚠️ Key Risk Notes: If price closes below the heavy support zone, bullish bias becomes invalidated. Monitor trendline breakouts or rejections for momentum shifts. 🔍 Summary: Bias: Bullish continuation Structure: Trendline support + support zone bounce Targets: $3,385 (interim) and $3,500 (main) Let me know if you’d like this chart recreated in TradingView or want a daily timeframe breakdown!Trade Still ActiveTarget First Hit